Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Salamander, a shoe retail chain and part of the German parent company ARA-Group, is closing all stores at all locations in Austria by September 2023. To this end, 200 employees will lose their jobs.
Repercussions of the COVID-19 pandemic and inflation are cited as reasons for the closure. The layoffs mainly affect women, the majority of people that are employed in retail. In 2021, Salamander has accumulated a net loss of more than nine million euros in Austria. At the same time, a sell-off is starting in order to prevent the company from becoming insolvent. According to Salamander CEO Jens Peter Klatt, the company has been sold to a new company.
Eurofound (2023), Salamander, Closure in Austria, factsheet number 109285, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109285.